The recession has initiated a number of cultural shifts ; consumers have become less obsessed with buying from big brands, discounting is now a major part of any company’s marketing mix and recent graduates are now preferring company formation over working within a large corporation. But what impact, if any will this have on the UK’s economic recovery?
Well, according to a recent report conducted by the Federation of Graduate Entrepreneurs, the number of recent graduates who have formed a company has risen by twenty two per cent over the past two years. This, the report claimed has given a welcome boost to the UK’s economic recovery.
The Federation of Graduate Entrepreneurs was established over five years ago with the objective of supporting young entrepreneurs through the company formation process right to the day to day running of their company. And it is not the only organisation of its type.
Dragon Den’s Peter Jones, has also set up an organisation to educate and support the nation’s young entrepreneurs. Jones is a passionate believer in the fact that the entrepreneurs of tomorrow hold the key to our economic recovery today. Another person who shares Jones’s belief is Oscar Robertson:
“In the current economic environment, it’s vital we empower young entrepreneurs with as much help and information as possible to ensure their ventures have every chance of success. Not only will this help decrease unemployment it will also provide a much needed boost to our economy.”